CRISES IN REAL ESTATE CAUSED BY GREED

On the eve of the opening of the Madrid International Real Estate Exhibition (SIMA 2008) last week, the representative of the Parquesol real estate company admitted that the sector’s greed had caused the current crisis in the construction industry. Antonio Trueba said: “We raised prices too much and forced consumers out of the market.” But he added that regional governments and municipal councils also had to shoulder part of the blame because of their “perverse urban planning policies”.

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